Exxon working to determine gas resource at Stabroek Block, Guyana minister says | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]The logo of American multinational oil and gas corporation ExxonMobil is seen during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren [Purchase Licensing Rights, opens new tab]- Companies[Exxon Mobil Corp]FollowGEORGETOWN, Feb 19 (Reuters) - Exxon ...

Quick Read SPDR S&P Oil & Gas ETF (XOP) gained 17.1% year-to-date despite WTI crude retreating from $75.89 to $64.53. ConocoPhillips missed Q4 estimates with $1.02 EPS as realized prices dropped 19% year-over-year to $42.46 per barrel. Diamondback Energy beat Q3 expectations with $3.51 EPS driven by strong Permian Basin execution. A recent study identified one single habit that doubled Americans’ retirement savings and moved retirement from dream, to reality. Read more here. The SPDR S&P Oil & G ...

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Core Insights - Guyana's oil growth potential is increasing due to easing tensions with Venezuela following the removal of President Nicolas Maduro, which may enhance foreign investment opportunities in the region [1] - The Guyana Energy Conference is set to discuss local workforce training, investment opportunities, and the development of a downstream sector [1] Industry Developments - The U.S. has called for $100 billion in investment to reactivate Venezuela's oil sector, which could alleviate a long-standing border dispute affecting Guyana's oil exploration [1] - Exxon Mobil's production capacity in Guyana has surpassed 900,000 barrels per day, with plans to increase this to 1.15 million barrels per day through new projects [1] - Chevron, having acquired a 30% stake in the Stabroek Block, believes the oil and gas resources in Guyana could exceed the current estimate of 11 billion barrels of oil equivalent [1] Company Activities - Exxon CEO Darren Woods indicated that the removal of Maduro may lead to improved operating conditions in Guyana, potentially reducing naval patrols and creating a more favorable environment for operations [1] - Chevron CEO Mike Wirth is expected to make the company's first official appearance at the conference, highlighting its commitment to further exploration in Guyana [1] - Exxon executives are anticipated to provide updates on operations, including a large-scale gas plan to support onshore power generation [1]

Core Viewpoint - A federal judge ruled that Exxon Mobil can proceed with its defamation lawsuit against California Attorney General Rob Bonta, rejecting Bonta's claim of immunity related to his criticisms of Exxon's recycling initiatives [1]. Group 1: Legal Proceedings - The judge, Michael Truncale, dismissed Bonta's immunity claim, stating that whether Bonta's criticisms were made in good faith is a factual question to be determined later [1]. - Related claims against environmental groups were dismissed due to lack of jurisdiction [1]. - Exxon filed the lawsuit against Bonta in January 2025, following California's lawsuit accusing Exxon of misleading the public about recycling [1]. Group 2: Statements and Allegations - Exxon objected to 14 statements made by Bonta, including claims that Exxon's recycling plan was "not based on truth" and that only 5% of U.S. plastic waste is recycled [1]. - The judge indicated that it would not be unfair to review certain statements for possible defamation, as they were directly related to Exxon and based on Texas sources [1]. - Bonta's statements included claims about plastic waste accumulation in Houston and the environmental impact of unrecycled plastics [1]. Group 3: Context and Implications - Exxon has shown a willingness to confront environmental critics who argue that its operations contribute to climate change and greenhouse gas emissions [1]. - The case highlights the ongoing tension between major oil companies and environmental advocates regarding sustainability and corporate responsibility [1].

Core Viewpoint - The U.S. has eased sanctions on Venezuela's energy sector, allowing global energy companies to resume operations and negotiate new investments in oil and gas [1] Group 1: Sanctions Easing - The U.S. Treasury Department issued two general licenses permitting companies like Chevron, BP, Eni, Shell, and Repsol to resume oil and gas operations in Venezuela [1] - A separate license allows global companies to enter contracts for new investments in Venezuelan energy, excluding transactions with entities from Russia, Iran, or China [1] Group 2: Investment Opportunities - The relaxation of sanctions is the most significant since the U.S. removed President Nicolas Maduro last month, with Trump seeking $100 billion in investments from energy companies [1] - Oil sales from Venezuela have reportedly reached $1 billion since Maduro's capture, with projections of an additional $5 billion in the coming months [1] Group 3: U.S. Control and Future Prospects - The U.S. will control the proceeds from Venezuelan oil sales until a "representative government" is established in the country [1] - The Treasury has issued several other licenses to facilitate oil exports, storage, imports, and sales from Venezuela, as well as authorizing U.S. goods and services for oil and gas exploration and production [1] Group 4: Company Engagement - Exxon Mobil and ConocoPhillips, which had their assets seized in 2007, are being encouraged to invest in Venezuela, although Exxon Mobil's CEO previously stated that Venezuela was "uninvestable" [1] - Exxon is currently in discussions with the Venezuelan government and is gathering data about the oil sector [1]

Market Overview - Gold prices dropped as much as 6% and silver fell 10% due to increased margin requirements by CME Group following a significant decline on Friday, leading to a selloff across markets as leveraged investors unwound positions to meet margin calls [1][8] - U.S.-listed gold and silver mining companies experienced declines in premarket trading, with Newmont down 2.2%, Barrick Mining down 2.8%, and Kinross Gold down 3.2% [1][8] Economic and Policy Impact - The selloff in precious metals intensified after U.S. President Donald Trump nominated Kevin Warsh as the next Federal Reserve chair, a decision perceived as hawkish by investors [2][8] - Shares of energy companies fell as oil prices decreased by 5% after Trump indicated that Iran was engaging in discussions with Washington, which eased concerns over supply disruptions [4][8] Technology Sector Performance - The volatility VIX index rose to 19.11, nearing a two-week high, influenced by mixed earnings from major tech companies and increased policy uncertainty following Trump's nomination of Warsh [5][9] - Major tech stocks, including Nvidia and Tesla, saw declines of nearly 2% each, while Meta and Alphabet lost 1.4% and 0.9%, respectively [5][9] - Microsoft shares recorded their worst week since March 2020 due to disappointing cloud revenue, raising concerns about the returns on significant investments in artificial intelligence [6][9] - Oracle's shares dropped 3.7% after announcing plans to raise $45 billion to $50 billion in debt and equity this year [6][9] Upcoming Economic Indicators - The U.S. is expected to experience a brief government shutdown after Congress failed to approve funding, with key economic data releases scheduled for the week, including January manufacturing PMI and labor market indicators such as JOLTS and nonfarm payrolls [7][9]

Core Viewpoint - Corporate earnings and geopolitical concerns have influenced investor sentiment, but dividend-paying stocks remain an attractive option for consistent income in a volatile market [1] Group 1: Viper Energy (VNOM) - Viper Energy, a subsidiary of Diamondback Energy, focuses on mineral and royalty interests in oil-weighted basins, primarily the Permian in West Texas, offering a dividend yield of 5.53% [3] - Analyst Leo Mariani from Roth Capital maintains a buy rating on VNOM with a price target of $48, citing its high organic growth rate, solid and growing dividend, and strong free cash flow even at lower oil prices [4] - Viper is expected to produce 66,552 barrels of oil per day in Q4 2025, slightly above estimates, with total production of 129,424 barrels of oil equivalent per day, also above consensus [4] - A cash distribution of $0.57 per share is anticipated for Q4 2025, reflecting a 2% decline, alongside an increase in share buybacks to $95 million [5] - Viper is considered more insulated from drilling cuts due to weak oil prices, as Diamondback operates 60% of its production, allowing for scaled-back activity outside VNOM's mineral acreage [6] Group 2: SLB (SLB) - SLB, an oilfield services provider, reported better-than-expected Q4 2025 results and announced a 3.5% increase in its quarterly cash dividend to $0.295 per share, resulting in a dividend yield of 2.41% [8] - Analyst Arun Jayaram from JPMorgan reiterated a buy rating on SLB, raising the price target to $54, noting that the company's 2026 guidance aligns with consensus expectations [9] - SLB is expected to benefit from growth in international markets, particularly in Latin America, the Middle East, and Asia, while facing a modest revenue decline in Europe and Africa [10] - The company anticipates generating approximately $4.2 billion in free cash flow in 2026 and returning nearly $4.3 billion to shareholders through dividends and buybacks [12] Group 3: EOG Resources (EOG) - EOG Resources offers a quarterly dividend of $1.02 per share, resulting in an annualized dividend yield of 3.68% [14] - Analyst Gabriele Sorbara from Siebert Williams Shank reaffirmed a buy rating on EOG with a price target of $150, expecting strong Q4 results in line with estimates [15] - EOG is projected to return at least 70% of free cash flow to shareholders annually, supported by strong free cash flow generation and a robust balance sheet [16] - The company plans opportunistic buybacks, with $4 billion available under an existing authorization, estimating $457.4 million in Q4 2025 share buybacks [17]

Core Insights - Invesco Large Cap Value ETF (PWV) has outperformed the S&P 500 by approximately 10 percentage points over five years due to strategic investments in energy stocks [1] - The fund has a concentrated portfolio with nearly 40% of its assets in financials and energy sectors, making it a tactical investment rather than a core holding [1] - PWV's dividend payments have fluctuated between $0.27 and $0.44, reflecting the volatility of its capital gains distributions alongside regular income [1] Group 1: Performance and Strategy - PWV's performance over the past year matched the S&P 500, but its energy-heavy positioning led to significant outperformance over five years as oil and gas stocks rebounded from pandemic lows [1] - The fund's concentrated approach, with only 50 holdings and the top 15 names controlling half of its assets, creates a different risk profile compared to broader value funds [1] - Investors in PWV are exposed to the performance of banks and oil prices, which can lead to amplified returns or losses based on market conditions [1] Group 2: Income Generation and Risk - The fund's dividend strategy results in unpredictable income, with quarterly distributions varying significantly due to its focus on cyclical stocks [1] - Higher fees compared to passive alternatives and concentrated risk in specific sectors create vulnerabilities for investors [1] - Minimal exposure to technology stocks means PWV may miss out on growth stock rallies, while large positions in individual stocks like Wells Fargo and Chevron increase single-stock risk [1]

Core Insights - Diamondback Energy, Inc. (NASDAQ:FANG) reported a decline in realized oil prices in Q4, with an average price of $58.00 per barrel, down from $64.60 in the previous quarter, reflecting a 9.2% decrease due to market oversupply and tariff concerns [2] - The average realized natural gas price also fell significantly to $1.03 per thousand cubic feet (Mcf) from $1.75 per Mcf in Q3, indicating a broader trend of weakening prices in the energy sector [3] - Analysts project adjusted earnings of $2.64 per share for Q4 and $12.98 per share for the full year, based on estimates from LSEG [4] Company Overview - Diamondback Energy, Inc. is an independent oil and natural gas producer focused on acquiring and developing unconventional onshore reserves, primarily in the Permian Basin in West Texas [5]